Sean ‘Diddy’ Combs, the US rapper, has sold his entire stake in Revolt, the media company he co-founded in 2013.
Revolt confirmed the complete buy-out in a statement on Tuesday. The media company revealed that Combs’ shares have been “redeemed and retired”. The sale price, however, remains undisclosed.
Detavio Samuels, Revolt’s CEO, told the New York Times that discussions about Diddy’s separation began in January after multiple sexual assault lawsuits were filed against him.
He said before the lawsuits, Combs had minimal interaction with the company.
Samuels revealed that the “staff were shaken by the cascade of news surrounding the company’s founder”, adding that they have completely “separated from Combs”.
“He is no longer chairman. He is no longer on the board. He has no shares, no equity in Revolt. We have completely separated and dissociated from each other,” he said.
Revolt also announced a new ownership structure that will give its employees an equity stake.
The separation follows months of controversy surrounding Combs.
In November 2023, Cassie, his ex-girlfriend, accused him of rape, abuse, and human trafficking during their 10-year relationship. However, the lawsuit was settled shortly after.
Several other women have also filed lawsuits against Combs with similar allegations.
In May, a video surfaced showing Combs assaulting Cassie in 2016.
Diddy, who had denied Cassie’s claims, however, apologised. He said he was “truly sorry” and that his actions were “inexcusable”. (The Cable)
